Too Big to Fail: Succession Challenge in Large Family Businesses

• 발행기관: 한국유통과학회
• 저자명: Hadi Cahyadi NG Jacob Donald TAN Sugiarto SUGIARTO Anton Wachidin WIDJAJA Rudy PRAMONO
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.1, 199~206쪽, 전체 8쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.01.30

영문 초록

This study investigated the main concerns and strategies in Indonesian large family businesses to undertake intergenerational succession effectively. The research data was obtained to shed light on the incumbents’ mindsets, key preferences, and experiences during the succession process. Access to incumbents of large family businesses that are conglomerates is scant. The preceding survey research was conducted to sensitize with the intricacy of the intergenerational succession process in large family businesses before entailing interpretative phenomenology analysis of qualitative data from interviews, observations, and field notes by approaching family members in five conglomerate groups that have major impacts on the economy. The findings explicate the incumbents’ preferred criteria in choosing their successors as well as their perceived concerns revolving around the appointment. Additionally, the incumbents’ succession approaches such as apprentice learning by successors, adaptability to external forces by successors, nurturing the entrepreneurial spirit in successors, governance establishment in the firms, business interest stimulation in successors, role modeling by incumbents, and collaboration between family and key non-family members are elicited during the intergenerational succession process. This study concluded with noteworthy implications for incumbents and successors in large family businesses, especially providing explicit criteria and strategies to appoint suitable successors, and suggesting potential avenues for future research.

목차

1. Introduction

2. Literature Review

3. Methodology

4. Findings and Discussions

5. Conclusion

References

키워드

Large Family Businesses Intergenerational Succession Phenomenological Indonesia